Monday, May 29, 2017

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Tenkan Sen takes it above 113% - Week 5 of May 2017.






Zoom into chart .. Click 



Introduction / Primer to Ichimoku can be read at this link (
click).
 


Learning from the Earlier Study: (click here for the previous post)

Bulls bounce off the 'Tenkan Sen' to clear the Fibonacci 113% of the last major Range. 

Senkou Span A & B  start to converge (see extreme right). 
The Tenkan Sen (blue) was again Support, from which, the Index launched itself, to this new high.

Wrap:
Bulls make another 'All Time High', clearing the Fibo 113%. 




Looking Forward into this Week:


Bears hope that the Senkou Span A & B convergence, can result in some downside. 
Chikou Span, preferably, needs to stay pointed away from the Price line, to keep the Bull move, going.


Wrap: 
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', want to stay above the Fibo 113% and aim for 9600+.

Bears, hope to get the index below the Tenkan Sen (blue line) and aim for sub 7070 levels.